Hex Trust Backed By Morgan Creek And Injective In Warm Up To Series C Round

Hex Trust has secured a strategic funding round led by Morgan Creek Digital with participation from global investors including Injective.

The funding will be deployed to strategic opportunities in Hex Trust’s expanding staking and market businesses, including potential strategic acquisitions. It will also enhance the firm’s ability to scale operations.

The digital assets financial service provider specializing in custody, staking, and market services, has raised over $100 million to date. This latest investment marks a pivotal milestone as Hex Trust prepares for its Series C raise anticipated for later in 2025.

“Funding paves the way for our Series C investment round”

Alessio Quaglini, CEO & Co-founder, Hex Trust, said: “The funding paves the way for our Series C investment round as we continue to expand, innovate and enhance the digital asset services we provide to our rapidly growing institutional client base.”

Xavier Segura, GP, Morgan Creek Digital, commented: “We are pleased to support Hex Trust in their recent strategic financing round. With over 300 institutional clients and more than US$5 billion in assets under custody, we believe Hex Trust has demonstrated its capability to address the complex needs of institutional clients. We think their focus on regulatory compliance, security, and seamless integration with legacy institutional portfolios has positioned them to serve the growing demand in the digital asset ecosystem in APAC and beyond. With this financing, we have conviction in the team’s disciplined approach and ability to continue expanding their market presence.”

Hex Trust provides licensed digital asset custody, staking, markets, and investment solutions to over 300 institutional clients, including banks, funds, exchanges, financial institutions, protocols, brokers, and foundations. The company operates from Hong Kong, Singapore, Dubai, France, and Italy.

In 2024, Hex Trust secured in-principle approval for a Major Payment Institution (MPI) license in Singapore, which allows the firm to offer digital payment token services in Singapore, specifically custody and OTC trading of digital payment tokens (DPTs).

The latest regulatory milestone in Singapore follows Hex Trust obtaining a full Virtual Asset Service Provider license in Dubai in November 2023. This enables Hex Trust to offer comprehensive virtual asset services, including broker-dealer activities, management and investment services, and regulated staking services.